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""Is the evidence for austerity based on an Excel spreadsheet error?" Lets not forget that people/politicians also will ignore errors if they support their poi
by FrustratedMonky 3y ago
""Is the evidence for austerity based on an Excel spreadsheet error?"
Lets not forget that people/politicians also will ignore errors if they support their point of view. This can lead to policy decisions that impact the global economy.
The US 'Right' believe strongly in biblical/moral individual responsibility, so any study that supports that gets a pass.
This lead to 'austerity' measures after 2008. Because "everyone should just be more responsible in their spending".
""They actually found, using a different method, that the economic growth would be around 2.2 percent. Reinhart and Rogoff admitted that their spreadsheet was accidentally omitting 5 rows in an Average formula, and claimed that the corrected result would be a positive growth but of just 0.2 percent.""
https://www.powerusersoftwares.com/post/2016/08/11/the-excel-formula-error-that-initiated-austerity-policies-after-the-crisis#:~:text=They%20actually%20found%2C%20using%20a,but%20of%20just%200.2%20percent https://www.powerusersoftwares.com/post/2016/08/11/the-excel....
https://www.theguardian.com/politics/2013/apr/18/uncovered-error-george-osborne-austerity https://www.theguardian.com/politics/2013/apr/18/uncovered-e...
https://www.washingtonpost.com/news/wonk/wp/2013/04/16/is-the-best-evidence-for-austerity-based-on-an-excel-spreadsheet-error/ https://www.washingtonpost.com/news/wonk/wp/2013/04/16/is-th...